Invalda INVL Group second generation PE fund closes above hard-cap with record EUR 410 million

In just 8 months from its first closing, INVL Private Equity Fund II has completed its final close raising a total of EUR 410 million, surpassing both the initial target of EUR 250 million and the hard cap of EUR 400 million. It marks the most successful private equity fundraising in CEE region in recent years, completed despite the challenging fundraising environment and global uncertainties. 

The second-generation INVL Private Equity Fund II, surpassed the size of its predecessor by c. 2.5x.   

Darius Šulnis, CEO at Invalda INVL, commented: “We have been investing and will continue to invest in our region. The fund’s success in raising capital is great news for companies across the Baltics, Poland, and the broader region that are seeking new capital or liquidity. The current environment favors those prepared to acquire strong, growing businesses, and we intend to make the most of it for the benefit of our investors.”  

Deimantė Korsakaitė, Managing Partner at INVL Private Equity Fund II and INVL Baltic Sea Growth Fund, commented: ”We are thankful to our long-standing and new investors for their trust. Securing this level of commitments from a diversified investor base in the current turbulent global environment is a strong endorsement of our work and confidence in our strategy, and we will work relentlessly to deliver the returns that investors expect. Since the first closing we have announced the signing of deals to invest in Eesti Keskkonnateenused, Estonia’s largest waste management group, and POLMED, one of Poland’s leading private multi-profile medical service providers. Both transactions are expected to close this year.”

The Fund has diverse base of investors that includes institutional investors, and some of the most successful entrepreneurs and family offices from the Baltics. It has received strong backing from institutional investors with commitments coming from the European Investment Fund, and the pension funds managed by asset management companies SEB, Luminor, and Artea, as well as IPAS INVL Asset Management in Latvia, and life insurance company UAB Artea Life Insurance. Investors with tickets below EUR 10 million had a possibility to invest via feeder fund INVL Private Equity Capital Fund II. Its final size reached EUR 166 million.

Asta Jovaišienė, Head at INVL Family Office, said: “INVL Family Office provides its clients with access to exclusive investment opportunities, offering exposure to alternative asset class. One of the most notable examples in recent years is INVL Private Equity Fund II. At INVL Family Office, we believe this fund aims to deliver not only financial returns but also purpose – the chance to contribute to real economic growth by indirectly investing in ambitious businesses. It aligns well with our clients’ values and meets their needs, as they seek responsible investments backed by proven expertise and a clear long-term vision.“  

Deimantė Korsakaitė continued: „Since the launch of our first-generation fund in 2019, we have not only more than doubled in size but also significantly expanded our team. Today the team, managing the funds, spans not only through Lithuania and Latvia, but as well Poland headed by the recently appointed Head of Poland. With full speed and focus ahead, we look forward to backing companies mainly in Baltics, Poland, Romania and across the broader EU that are aiming to seize growth opportunities. We are looking to acquire majority or significant minority stakes investing equity tickets of EUR 10 to 60 million with a sweet spot of c. EUR 35 million.”  

The INVL Private Equity Fund II’s management team consists of nearly 20 professionals. To strengthen its footprint and local presence in Poland, senior investment professional Sylwester Urbanek, with more than 25 years of experience in private equity and investments, recently joined the fund team as Head of Poland. He will lead the expansion into Poland, which is one of the core investment markets for the fund.

About INVL Private Equity Fund II 

With EUR 410 million of commitments, it is the largest private equity fund in the Baltics and one of the largest in CEE. The fund is sector-agnostic and is looking to build a diversified portfolio investing in companies with the potential to become regional leaders in their respective industries. Equity ticket ranges between EUR 10 million to EUR 60 million with larger ticket available with co-investors, and the fund is looking into majority or significant minority stakes where it could drive long-term value creation. The focus is on businesses with strong potential to grow and compete amid intensifying global competition. Geographically the fund is targeting opportunities in the Baltic countries, Poland, and the broader Europe Union. 

The fund is managed by INVL Asset Management, the leading Baltic alternative asset manager, which is a part of the Invalda INVL Group with over 30 years of experience. The group’s companies manage EUR 2 billion in assets across various investment strategies, including private equity, forests and agricultural land, renewable energy, real estate, and private debt. Additionally, the group provides family office services in Lithuania, Latvia and Estonia, manages pension funds in Latvia and invests in global third-party funds. 

Additional information:

Darius Šulnis

CEO of Invalda INVL